Deductions & credits

Turbo Tax, however, will deduct all three mortgage interests, and invite you to enter even more 1098s on the interview screen. So, it will apparently have you violate the tax law, which allows only two interest amounts (corresponding to two homes) to deduct, if you don't catch this yourself.  

 

I just did a hypothetical scenario to check whether Turbo would only allow two homes' mortgage interest deductions. Finding the law is not that easy, and it's kind of vague about property taxes on the third home. That's why I tried it with Turbo to see if they would implement the law for me. I guess not. Beware.